6E1! eur/usd Setup Idea
I will be looking for opportunities for a long position. The price has returned to the value range with a fairly good volume. If it turned out that it reads the chart well, it will show one of the scenarios for a possible connection. A scenario that is quite conservative and has a relatively good risk-reward ratio.
1. Red square. I will expect sellers here. I hope that the level will be defended and the sale will be absorbed by passive traders (limit orders). How long will it take? It's hard to say. When the pressure goes away, I would like to see that the price goes down by a few / a dozen ticks, but this time without pressure or volume. Then, if the setup is to work, there should be traders with aggressive buy orders across the market.
2. Green square. This is her place where, with the above in mind, I would look for a position.
What's the funniest thing about this game is that I don't care what happens. And I have absolutely no idea which way the listing of this contract will go. The price may just jump up or down. If it jumps up, good. I will be looking for the next configuration for a long position. If it jumps down, good too. After all, a short position is also a position.
The most important thing in trading, in my opinion, is to have well-defined conditions for concluding a transaction and the context of this venture.
Greetings.
1. Red square. I will expect sellers here. I hope that the level will be defended and the sale will be absorbed by passive traders (limit orders). How long will it take? It's hard to say. When the pressure goes away, I would like to see that the price goes down by a few / a dozen ticks, but this time without pressure or volume. Then, if the setup is to work, there should be traders with aggressive buy orders across the market.
2. Green square. This is her place where, with the above in mind, I would look for a position.
What's the funniest thing about this game is that I don't care what happens. And I have absolutely no idea which way the listing of this contract will go. The price may just jump up or down. If it jumps up, good. I will be looking for the next configuration for a long position. If it jumps down, good too. After all, a short position is also a position.
The most important thing in trading, in my opinion, is to have well-defined conditions for concluding a transaction and the context of this venture.
Greetings.
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